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Description/Features: |
Conventional
Fixed-Rate Mortgages |
- Variety of products and terms
- Fixed monthly payments for life of mortgage
- Zero or low down payment programs available
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Adjustable-Rate
Mortgages (ARMs) |
- Can help you qualify for a larger home
- Lower initial interest rate than fixed-rate loans
- Interest rate periodically adjusts with changing market rates — typically no more
than 2% per adjustment period
- Variety of adjustment periods
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FHA Mortgages |
- Low down payments — minimal cash needed
- Easy credit & income qualifications
- Fixed-rate & adjustable-rate options
- Usually assumable by next owner when home is sold
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VA Mortgages |
- Fixed-rate mortgages for qualified veterans
- No down payment required
- Easy credit & income qualifications
- No monthly insurance requirement
- Assumable by next owner when home is sold
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Jumbo Mortgages |
- Larger loan amounts to purchase high-end homes
- Amounts as high as $2 million
- Fixed-rate & adjustable-rate options
- Variety of products and terms
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Construction/
Permanent Loans |
- Two loans with one approval process & closing
- Short-term building loan & long-term mortgage
- Mortgage lock-in & adjustment options
- Choices for fixed-rate, ARM & jumbo mortgages
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Lot Loans |
- Variety of choices with low down payment
- Flexible repayment terms including an interest-only option
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